While in the exchange market the dollar experienced strong rises in all its variants, the bonds derived from the exchange carried out by former Economy Minister Martín Guzmán accumulated falls of more than 40% during the year.
In today’s session, the strongest price loss was experienced by the GD46D, which fell 8.4%, to a value of US$ 19.05.
Meanwhile, GD35D fell 7.7%, to US$18, and AL41D fell 4.1%, to US$21. The rest of the restructuring bonds showed the same trend: GD30D (-3.9%, to US$19.55), AL29D (-3.2%, to US$18.40), AL30D (-3.7%, to US$17.50), AL35D (-2.2%, to US$17 .60) and AE38D (-1%, at $22.71).
This deterioration of the bonds caused a new increase of 1.6% in the Country Risk, which left it at 2,838 points.
The lack of responses to the financial crisis by the Government accentuated the uncertainty and international investors are increasingly convinced that one of the next steps in financial matters by Argentina will be a new restructuring of its sovereign debt.
Despite this debacle, local stocks experienced a sustained rise, as a result of opportunity purchases. The MERVAL advanced 4.7%, to 112,017.03 points, with some papers reaching two digits of progress. There were no casualties.
Such is the case of Ternium, which rose 9% during today’s trading session.
Among the most prominent papers were Aluar (8.6%), Loma Negra (8.5%) and Transportadora Gas del Sur (7.2%). Then come Grupo Financiero Valores (6%), Galicia (6%), BYMA (5.8%), Superville (5%) and Telecom (5%).
Meanwhile, ADRs also closed in the red in line with the international bond market. Edenor (-7.9%), Banco Francés (4.4%) and IRSA (5.6%) were the ones with the greatest decline.
Source: Ambito
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